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Fiscal Year 21-22 Request for Proposals for Affordable Housing Development <br />December 7, 2021 <br />Page 2 <br />2 <br />2 <br />6 <br />1 <br />The available funds for this RFP includes funds available in the Inclusionary Housing <br />Fund, HOME Investment Partnerships (HOME) Program, HOME-American Rescue Plan <br />(HOME-ARP) Program, Project-Based Voucher Program, Neighborhood Stabilization <br />Program and/or any other funds received by the City of Santa Ana for affordable housing <br />purposes as published on a quarterly basis as an exhibit in the Housing Division Quarterly <br />Report. <br />The available funds for this RFP are as follows: <br />Inclusionary Housing Fund $10,093,318 <br />HOME Investment Partnerships Program (HOME)$3,161,226 <br />HOME – American Rescue Plan (HOME–ARP)$5,256,327 <br />Neighborhood Stabilization Program (NSP)$135,107 <br />Project-Based Vouchers Twenty-Five (25) <br />TOTAL $18,645,978 and 25 Project- <br />Based Vouchers <br />Staff is interested in furthering the following priorities through this RFP: <br />1) Acquisition and rehabilitation projects that consist of substantial rehabilitation and will <br />impose long-term affordability covenants on the units. <br />2) Projects that will provide affordable homeownership opportunities. <br />Available program funds may be used for affordable housing development loans for the <br />following eligible purposes: <br />1) The purchase of existing multi-family or other buildings for rent or sale to very low- <br />and extremely low-income households and for the development of congregate <br />housing for rent to very low- and extremely low-income persons with special needs <br />(e.g. homeless individuals and families, elderly, persons with a disability). <br />2) The purchase or lease of land and buildings for new construction or rehabilitation of <br />housing that may utilize available State and Federal housing assistance programs <br />such as Low-Income Housing Tax Credits, the Section 202 Supportive Housing for <br />the Elderly Program, tax-exempt bond financing, Section 811 Supportive Housing <br />Program, and/or other available State and Federal programs. <br />3) The development of limited-equity housing cooperatives through either conversion or <br />new construction. <br />4) The provision of interim loan funds for any of the above purposes prior to the funding <br />of a public or private loan. Eligible development costs for the above uses include, but <br />are not necessarily limited to: <br />a. site acquisition and preparation; <br />b. rehabilitation of dwelling units, common areas and related structures; <br />c. new construction; <br />d. carrying charges and financing fees;